Exponent puts in offer for Trinity regionals

Private equity firm Exponent, which owns the Times Educational Supplement, has emerged as one of the main contenders to buy Trinity Mirror's Midlands newspapers for an estimated £150m-£200m.

It is understood Exponent has submitted an offer for the set of regional publications, which includes titles such as the Birmingham Post and the Coventry Evening Telegraph.It is believed to be one of several shortlisted buyers.

Other parties that have previously expressed an interest include Sir Digby Jones, the former director-general of the CBI, who has said he would like to lead a consortium of local investors to buy the assets.

Meanwhile, local businessman Chris Bullivant, whose company owns several free newspapers in the region, has also said he plans to make a bid for the titles.

The bid for the Midlands titles by Exponent comes as it also vies with rival private equity suitor Veronis Suhler Stevenson to acquire the UK's only racing daily, the Racing Post, which has also been put on the auction block by Trinity Mirror.

Another three unknown bidders are believed to have made it on to the final shortlist for the Racing Post, which is expected to be sold for £200m.

Late last year, Trinity Mirror announced plans to sell off part of its regional newspaper portfolio, which includes some titles based in London and the South East, following a four-month strategic review. Trinity Mirror's management believes the conclusion of the review will help create "one of the most efficient and modern media groups in Europe". Exponent declined to comment.